Rate cut bonanza begins
Thursday, August 8th 2019, 10:19AM
A landmark day for interest rates yesterday after the Reserve Bank slashed the Official Cash Rate by 50 basis points to just 1%.
ASB moved first with a cut yesterday. Its new two year special rate of 3.75% is available from this morning.
Sovereign has also cut its two year special to 3.75%. BNZ's cut, to the same rate, will come into effect on Monday. Take a look at our rates table here: [READ ON].
Meanwhile, a host of floating rate changes set to come into effect over the coming weeks. We have summarised the big moves in our lead article on TMM Online: [READ ON].
| « Official Cash Rate decision looms; Auckland prices fall | New Southern Cross CEO; Nelson Building Society rate cut » |
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